We all know that Social Media Marketing has become a good way to spread WOM, create customer loyalty, and provide help to its reader. But now Hewlett Packard researcher Bernardo Huberman says that social media can predict sales.
Bernardo Huberman’s position at HP is director of the Social Computing-Research Group. He works in HP labs and also wrote a book called The Laws of the Web. Huberman shares a secret about understanding customers through social media that we are not used to by employing statistical procedures.
Huberman has successfully predicted movie sales consistently with the help of Twitter. By employing these statistical procedures, Huberman has predicted box sales a week before a movie comes out. This news is impressive. The fact that Twitter can provide a unique way to forecast is remarkable. I believe this will only make social media marketing more prevalent in marketing. Considering all the sources that Twitter was already useful for, this makes the social media marketing platform that much more unique.